Plato Investment Management Ltd Has $451,000 Holdings in Crown Castle Inc. $CCI

Plato Investment Management Ltd lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 68.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,405 shares of the real estate investment trust’s stock after selling 9,601 shares during the period. Plato Investment Management Ltd’s holdings in Crown Castle were worth $451,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Crown Castle by 10.2% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,552 shares of the real estate investment trust’s stock worth $5,707,000 after purchasing an additional 5,144 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Crown Castle by 13.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust’s stock worth $3,665,000 after purchasing an additional 4,276 shares during the period. Inspire Trust Co. N.A. increased its holdings in shares of Crown Castle by 25.0% in the first quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the real estate investment trust’s stock worth $2,085,000 after purchasing an additional 4,000 shares during the period. American Assets Investment Management LLC bought a new position in shares of Crown Castle in the first quarter worth $10,395,000. Finally, Cbre Investment Management Listed Real Assets LLC increased its holdings in shares of Crown Castle by 1.1% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 751,212 shares of the real estate investment trust’s stock worth $78,299,000 after purchasing an additional 8,308 shares during the period. 90.77% of the stock is owned by institutional investors.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $89.47 on Tuesday. The company’s fifty day simple moving average is $95.85 and its 200-day simple moving average is $100.40. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $115.76. The stock has a market capitalization of $38.96 billion, a PE ratio of -8.42, a P/E/G ratio of 0.68 and a beta of 0.95.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. Crown Castle’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, research analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 4.8%. The ex-dividend date was Monday, September 15th. Crown Castle’s dividend payout ratio is presently -39.98%.

Analyst Ratings Changes

A number of research firms have weighed in on CCI. Citigroup lowered their price target on Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. JMP Securities reissued a “market outperform” rating and issued a $125.00 price target on shares of Crown Castle in a report on Thursday, July 24th. Wolfe Research upgraded shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective for the company in a report on Monday, September 22nd. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Wells Fargo & Company dropped their price objective on shares of Crown Castle from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle presently has an average rating of “Moderate Buy” and a consensus price target of $113.12.

Insider Transactions at Crown Castle

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the transaction, the executive vice president directly owned 65,571 shares in the company, valued at $6,431,203.68. This represents a 31.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by insiders.

Crown Castle Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.